Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

EVI Industries to Acquire Consolidated Laundry Equipment, Central Equipment Company.

Document Cited in Related
Vincent

MANews-(C)2009-2021

US-based laundry and dry cleaning equipment distributor EVI Industries, Inc. (NYSE American: EVI) has executed a definitive agreement to acquire Raleigh, North Carolina-based Consolidated Laundry Equipment and Columbia, South Carolina-based Central Equipment Company, the company said.

Both companies are distributors of commercial laundry products and providers of related technical installation and maintenance services.

The addition of CLE strengthens EVI's market share position in the southeast region of the United States with over USD 90m in revenue derived from offering a selection of commercial laundry products and technical service capabilities to thousands of Industrial, On-Premise, Vended, and Multi-Family Laundry customers.

For the twelve months ended November 30, 2021, CLE generated revenues of approximately USD 17m, which were derived from the sale of equipment, parts, and supplies, and the performance of installation and maintenance services.

The addition of CLE increases EVI's market share in the southeast and will result in new opportunities to deliver more products and technical services to EVI's growing customer base in the region.

Consistent with EVI's operating philosophy, CLE will operate...

To continue reading

Request your trial
COPYRIGHT Normans Media Ltd.

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT